Hold your ground: Why valuing your price point is more successful than discounting
Conversations around budget are like tax time — a necessary evil that all business owners would avoid forever if it was possible. But alas, that’s not the case and both must be dealt with.
We’ve all heard the dreaded sentence “Is that the best price you can do?” and had to navigate our way through an awkward conversation about budget. If my years in business have taught me anything, it’s that being prepared for this question by knowing where you stand is the best thing for you, your business and your clients. In the early stages of my career, this was certainly easier said than done, but as I’ve grown, this piece of advice has become something I rely on.
The ability to negotiate in ways that aren’t harmful to your business is an essential skill. Valuing your price point and holding your ground will always see to more success than discounting ever will.
Why discounting your work does you and your staff a disservice
While discounting your service or product may seem like a good idea to get a client across the line, it’s only a short term fix and I’d argue it’s doing long-term damage. Everyone loves a bargain, but you have to consider what the underlying message is of that. For starters, it implies that the original quote is not an honest one and this compromises current and future trust you have with your clients.